Does Energy Efficiency Predict Mortgage Performance?

Guin, Benjamin; Korhonen, Perttu

doi:10.2139/ssrn.3532373

Cited by 14 publications

(5 citation statements)

References 5 publications

(5 reference statements)

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“…23 Kaza et al (2014), Guin i Korhonen (2018. Vegeu també els informes del European Energy efficient Mortgages Market Implementation Plan (2019).…”

Section: Majories Simples Per a La Renovació D'edificis En Règim De P...unclassified

L’onada de renovació energètica dels edificis

Anderson

2023

RCDP

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Al marc de la transició ecològica i digital, l’onada de renovació dels edificis impulsada per la UE s’ha de dur a terme de manera que no es deixi ningú enrere. Diverses institucions pròpies del dret civil poden contribuir a assolir els objectius de descarbonització del parc immobiliari, gràcies a la seva capacitat d’adaptació, però presenten també limitacions a l’hora de prevenir que de les polítiques de renovació en resulti un increment de l’exclusió social i residencial. Aquest estudi explora, d’acord amb aquestes premisses, l’establiment d’estàndards mínims d’eficiència energètica, els incentius a l’arrendador en forma de repercussió de costos, la facilitació de la presa d’acords per part de les comunitats de propietaris i el finançament sostenible, així com l’ús de càrregues registrals i censos per part de normes de caire administratiu, que també procuren pal·liar les situacions de vulnerabilitat existents i que es poden generar degut, precisament, a l’onada de renovació. Es constata la necessitat d’impulsar una major sincronia entre el dret públic i el dret privat en aquest context.

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“…23 Kaza et al (2014), Guin i Korhonen (2018. Vegeu també els informes del European Energy efficient Mortgages Market Implementation Plan (2019).…”

Section: Majories Simples Per a La Renovació D'edificis En Règim De P...unclassified

L’onada de renovació energètica dels edificis

Anderson

2023

RCDP

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“…Jurisdictions leading the development and preliminary implementation of more systematic climate stress tests have experience conducting climate-related risk research, stakeholder engagement, scenario analyses, and stress test pilots, as well as issuing complementary supervisory guidance. For example, in advance of the Climate Biennial Exploratory Scenario (CBES), the BOE produced extensive research on climate-related financial risks [ 109 , 144 – 147 ], conducted a survey of industry climate risk practices [ 148 ], issued a supervisory statement on climate risk [ 149 ], and launched a pilot climate stress test for the insurance sector [ 110 , 111 ]. Similarly, in advance of the implementation of climate stress tests [ 117 ], European authorities partnered to conduct climate scenario analyses [ 94 , 95 , 98 ], publish supervisory guidance for climate risk analysis and disclosure [ 150 ], and review bank-led climate stress testing practices as part of alignment with supervisory expectations [ 74 ].…”

Section: Climate Stress Testing Practicesmentioning

confidence: 99%

Environmental sustainability and financial stability: can macroprudential stress testing measure and mitigate climate-related systemic financial risk?

DeMenno

2022

J Bank Regul

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Despite widespread recognition among financial regulators and central banks that climate change may threaten financial stability, the causes and consequences of climate-related systemic financial risk remain underexplored. Stress testing has emerged as one of the most prevalent regulatory tools for addressing climate-related financial risks, and this article analyzes the role of stress testing in mitigating the effects of climate change on financial stability. Specifically, it synthesizes the multi-disciplinary literature on climate-related financial risk, financial stability, and stress testing to develop a framework for evaluating the capacity and effectiveness of stress tests for measuring and managing climate-related systemic financial risk. It then takes stock of climate stress testing proposals and early practices globally and applies the evaluative framework in comparative case studies of the Bank of England and US Federal Reserve. It concludes that stress testing can support the measurement and management of both microprudential and macroprudential climate-related financial risks, but the benefits of stress testing vis-à-vis climate change and financial stability are largely unrealized. Addressing the disconnect between climate stress testing policy motivation and implementation as well as the divergence between leading and lagging jurisdictions will require both interagency and international regulatory cooperation.

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“…Ref. [51], dealing with the UK market, found that "mortgages against energy-efficient properties are less frequently in payment arrears" even taking into account borrowers' income. Therefore, "the energy efficiency of a property is a relevant predictor of mortgage payment arrears".…”

Section: The Role Of Green Mortgagesmentioning

confidence: 99%

Green Mortgages, EU Taxonomy and Environment Risk Weighted Assets: A Key Link for the Transition

et al. 2022

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The need for a quick and radical green transition gives a key role to the financial system as the main source to fund the change. This debate also involves the development of banking regulation tools able to serve the transition. Building on previous works, we propose a method to weight banks’ assets that combines conventional financial risks and environmental risks to calculate prudential capital requirements, and we apply it to the EU Taxonomy’s technical screening criteria to build an environmental risk indicator based on the buildings’ energy consumptions. We show how to calculate the tool endogenously for the taxonomy sections related to buildings (new construction, purchase of building, renovation), thus proving its immediate enforceability, using data from the Lombardy’s housing stocks. Finally, we conduct a stress test for the Italian banking system showing that our proposal would be an effective incentive for the banks to fund the green transition of the construction sector. Disclaimer: The views expressed are those of the authors and do not involve the responsibility of the Bank of Italy or RSE.

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Does Energy Efficiency Predict Mortgage Performance?

Cited by 14 publications

References 5 publications

L’onada de renovació energètica dels edificis

L’onada de renovació energètica dels edificis

Environmental sustainability and financial stability: can macroprudential stress testing measure and mitigate climate-related systemic financial risk?

Green Mortgages, EU Taxonomy and Environment Risk Weighted Assets: A Key Link for the Transition

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